Greater Tokyo existing condo sales continue record high in fiscal 2024
- Adam German
- 1 day ago
- 2 min read
On April 18th, The East Japan Real Estate Information Network (REINS; pronounced “rains”) released its market report for fiscal 2024 (April 2024 to March 2025), showing the Greater Tokyo real estate resale market remained strong, revealing continued growth in condominium and single-family home (SFH) sales.
The GTA consists of the following prefectures; Tokyo, Kanagawa, Chiba and Saitama.
All percentages presented refer to year-on-year growth, in other words percentage differences compared the fiscal 2023 or the previous measured time frame.
The prices listed below in no way offer a guarantee and are averages meant to illustrate trends. Real estate is a hyper-local venture so always consult a licensed realtor for your property specific needs.
Greater Tokyo FY 2024 Existing Condo Sales Results
A total of 39,736 existing condominiums were sold in Greater Tokyo Area (GTA) during FY2024, up 8.6% from the previous year.
This marks the second straight year of growth.
Broken down by prefecture:
Prefecture | Existing Condos Sold | YoY % Change |
Tokyo | 21,449 | 8.0% UP |
Kanagawa | 9,176 | 8.2% UP |
Chiba | 4,690 | 10.3% UP |
Saitama | 4,401 | 10.6% UP |
The average price per square meter rose 6.0% year-on-year (YoY) to ¥780,600, while the average transaction price climbed 5.1% to ¥49.39 million.
Both figures marked record highs for the 12th year in a row.
However, the average size of transacted units declined slightly to 63.27 m² (-0.8% YoY), while the average age of sold properties increased to 25.28 years, continuing a 16-year trend of aging inventory.
The number of newly listed properties fell 4.0% to 188,588, the second consecutive annual decline, highlighting tightening available supply.
Greater Tokyo Fiscal 2024 Single-Family Home Market
Existing SFH sales rose sharply to 15,869 units, up 20.6% year-on-year, marking a new record high and the second straight year of growth.
Newly built SFH’s also saw a strong recovery, with 7,490 units sold; a 51.3% increase compared to the previous year.
Further Reading:
GTA Fiscal 2024 Existing Condo & SFH Market Report (Japanese only; includes YoY comparison to 2025 January to March analysis as well as FY 2024 updated historical comp charts)
Source:
R.E. Port News (Japanese only)
